Data Finalisation for Balance Sheet

Course Overview

Data Finalisation for Balance Sheet

This course is designed to give students and accounting professionals deep, practical insights into the end-to-end finalisation of financial statements, particularly focusing on the Balance Sheet using Tally Prime and other standard accounting practices. It covers compliance, data accuracy, reconciliation, reporting, and statutory requirements.

Course Modules

Trial Balance Review
Understand the structure of Trial Balance
Identify discrepancies and unbalanced accounts
Adjustments before finalisation
GSTR-2B Reconciliation with Purchase Book
Introduction to GSTR-2B and its role
Reconciliation techniques using Excel & Tally
Matching ITC claimed vs. GSTR-2B availability
Handling mismatches and vendor communication
Cash Ledger & Credit Ledger Transfer Entry
Transfer entries for cash and credit management
Adjustments for advances, petty cash, and credit facilities
Ensuring accurate cash flow representation
NBFC TDS Entry
Understanding NBFC-specific TDS applicability
Booking TDS entries on loan/interest paid
Compliances and quarterly filing checks
Party Ledger Reconciliation
Customer and vendor ledger validation
Aging reports and outstanding analysis
Confirmation letter formats and follow-ups
Opening Balance Updation in Tally
Comparing prior Balance Sheet and Tally opening balances
Making rectification entries
Importance in continuous data management
Stock Grouping and Stock Audit
Stock categorisation for valuation
Conducting a physical stock audit
Integrating audit reports into accounting system
Adjusting entries for stock differences
TDS Working & Challan Creation
Section-wise TDS calculations
Monthly deduction and payment cycle
Generating challans via NSDL/TRACES
Tally TDS module integration
Direct & Indirect Expenses Grouping
Understanding classification as per Income Tax Act
Grouping for better financial analysis
Depreciation, Rent, Salaries, Office Maintenance
Verification of Accounts Heads
Ensuring accounts head compliance with standards
Matching with Schedule III format
Re-grouping for presentation clarity in final reports

Additional Suggested Modules

  • GST Annual Return (GSTR-9) Prep
    Preparation steps and required reports
    Cross-verification with GSTR-1 & GSTR-3B
    Error handling and ITC mismatches
  • Audit Trail Report (As per MCA Notification)
    Introduction to audit trails
    Maintaining edit logs in Tally Prime
    Ensuring compliance with Companies Act 2021 amendment
  • Bank Reconciliation (BRS)
    Step-by-step BRS process
    Handling unpresented/uncredited cheques
    Automation using Tally's BRS module
  • Fixed Asset Register Management
    Mapping physical vs. book assets
    Depreciation calculations as per Companies Act & IT Act
    Asset tagging and reporting
  • Final Balance Sheet Generation
    Final entries and adjustments
    Generating clean Balance Sheet & P&L
    Exporting in Excel & PDF for auditor use

Who Should Enroll?

  • Accountants & Tally Operators
  • Commerce Students
  • Business Owners
  • Finance Admins
  • Tax Practitioners
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